Assembly Bill A3320

Signed By Governor
2019-2020 Legislative Session

Relates to the banking development district program

download bill text pdf

Sponsored By

Archive: Last Bill Status Via S727 - Signed by Governor


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2019-A3320 (ACTIVE) - Details

See Senate Version of this Bill:
S727
Law Section:
Banking Law
Laws Affected:
Amd §96-d, Bank L; amd §4, Chap 526 of 1998
Versions Introduced in Other Legislative Sessions:
2015-2016: S5521
2017-2018: A6949, S5187

2019-A3320 (ACTIVE) - Summary

Relates to the banking development districts program.

2019-A3320 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3320
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 29, 2019
                                ___________
 
 Introduced  by  M.  of  A.  ZEBROWSKI,  BLAKE, LUPARDO, COLTON, WALLACE,
   JONES, RICHARDSON, WALSH, BRABENEC -- read once and  referred  to  the
   Committee on Banks
 
 AN  ACT to amend the banking law, in relation to the banking development
   district program; to amend chapter 526 of the laws of  1998,  amending
   the  banking  law relating to participation in the banking development
   districts program, in relation to the effectiveness thereof
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1. Subdivision 2 of section 96-d of the banking law, as added
 by chapter 204 of the laws of 1997, is amended to read as follows:
   2. A local government, in conjunction with a bank,  trust  company  or
 national  bank,  may submit an application to the superintendent for the
 designation of a banking development district. The superintendent  shall
 issue  a  determination  on  such  an  application  within sixty days of
 receiving such application. If an application is  approved,  the  super-
 intendent shall transmit notification of [such approval] THE DESIGNATION
 OF  A  BANKING  DEVELOPMENT  DISTRICT to the local government, the bank,
 trust company or national bank, the state comptroller, the  commissioner
 of  taxation and finance, the commissioner of the department of economic
 development, the temporary president of the senate and  the  speaker  of
 the assembly. THE DESIGNATION OF A BANKING DEVELOPMENT DISTRICT SHALL BE
 VALID  FOR FOURTEEN YEARS. PRIOR TO THE EXPIRATION OF A BANKING DEVELOP-
 MENT DISTRICT DESIGNATION, THE SUPERINTENDENT MAY EXTEND THE DESIGNATION
 FOR ONE OR MORE ADDITIONAL FIVE OR TEN YEAR PERIODS.
   § 2. Section 4 of chapter 526 of the laws of 1998, amending the  bank-
 ing  law  relating to participation in the banking development districts
 program, as amended by chapter 46 of the laws of  2016,  is  amended  to
 read as follows:
   §  4.  This  act  shall  take  effect on the first day of January next
 succeeding the date on which it shall have  become  a  law  and  SECTION
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

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